In 1990, $88 Million Was Paid for a Painting

question 6

Multiple Choice

In 1990, $88 million was paid for a painting. The same painting was sold for $53.0 million in 1987. Assume that the value of the painting increases at an exponential rate. When will the value of the painting be $100 million? Round your answer to two decimal places.

• A)5.34 years
• B)3.76 years
• C)4.63 years
• D)1.63 years
• E)0.76 year

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